By the end of next week, the US House will likely be recessing for the July 4th holiday and when it reconvenes thereafter, House democratic leaders anticipate bringing the “Raise The Wage Act” up for a formal floor vote. The legislation, filed by Education & Labor Committee Chairman Representative Scott (D-VA), would raise the current $7.25 federal minimum wage by $1.30 per hour each year until it reached $15/hour in 2024! Furthermore, the proposal would eliminate all sub-minimum wages currently allowed for youth workers, for individuals with disabilities and for tipped workers. Subsequently, the federal minimum would be tied to national median wage growth and would rise accordingly. A study released earlier this year on the impact of a $15 federal minimum wage by the Employment Policies Institute projected its passage could cause the loss of as many as 2 million jobs! Despite the likelihood of the measure winning approval in the democratically-controlled US House, it has virtually no chance of passing the Senate, let alone being signed into law by the President.
